HomeMy Public PortalAboutOrdinance #340TOWN OF ERASER
ORDINANCE N0.340
Series 2008
AN ORDINANCE PROVIDING FOR THE LEASING OF REAL PROPERTY OWNED BY
THE TOWN OF ERASER FOR A TERM OF FORTY YEARS.
WHEREAS, the Town of Fraser has contracted to purchase the property described below,
located in the Town of Fraser, Colorado; and
WHEREAS, the lease-purchase financing arrangements for the acquisition of such
property require that the Town enter into a Ground Lease with Wells Fargo Brokerage Services,
LLC, as Lessee, whereby. said Lessee will lease said property from the Town for a term extending
up to forty (40) years; and
WHEREAS, the Board of Trustees hereby finds and determines that said Ground Lease is
in the best interest of the Town, by allowing for the acquisition of said property on favorable
financing terms.
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN
OF ERASER, COLORADO, THAT:
SECTION 1. The Board of Trustees hereby approves and authorizes the leasing of the following
real property located in the Town of Fraser, County of Grand, and State of Colorado, to-wit:
Lots 14, 15, 16, 17, 18, 19, 20, 21, 22, 23 and all that part of Lot 13 lying Northeasterly of
the right of way of U.S. Highway No. 40, Block 7, FIRST ADDITION TO THE TOWN
OF EASTOM,
EXCEPT the Easterly 14.50 feet of said Lot 23 as described in Warranty Deed recorded
December 11, 2001, at Reception No. 2001-012437,
TOGETHER WITH that portion of vacated Eastom Avenue as described in Ordinance
No. 275 recorded December 11, 2001, at Reception No. 2001-012436.
to Wells Fargo Brokerage Services, LLC, for a term extending up to forty (40) years, pursuant to
the terms of the Ground Lease dated as of March 27, 2008, in the form and content presented to
and reviewed by the Board. The Mayor and the Town Clerk are authorized to execute and
deliver said Ground Lease, to effectuate such lease.
SECTION 2. The Board of Trustees finds and determines that the leasing of said real property,
as authorized by this Ordinance, is in the best interest of the Town, that said Ground Lease is
made pursuant to the provisions of C.R.S. 31-15-713, and that all requirements of said statute
have been complied with.
SECTION 3. The Board of Trustees further finds and determines that this Ordinance is
necessary to the immediate preservation of the public health and safety, in order to allow the
Town to acquire ownership of said property and obtain lease-purchase financing upon terms
favorable to the Town; and this Ordinance shall therefore take effect immediately upon adoption.
SECTION 4. This Ordinance shall be published fin fulll jbv title onlvl.,
READ, PASSED, ADOPTED AND ORDERED PUBLISHED BY THE BOARD OF
TRUSTEES AND SIGNED THIS ~~ day of ~cs~-r~~1 , 2008.
Votes in favor:
Votes opposed: ~
Votes abstained:
~, of F~
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(SEAL) ~~~L
BOARD OF TRUSTEES OF THE
TOWN OF FRASER, COLORADO
Fran Cook, Mayor
A 1 t ~;ST:
~1~ ~ , A
Lu Berger, Town Clem
Published in the Middle Park Times on ,~~ ~ .~r~ , 2008.
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